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Meta Platforms（META）与英伟达（NVDA）财务数据对比。点击上方公司名可切换其他公司
英伟达的季度营收约是Meta Platforms的1.1倍（$68.1B vs $59.9B），英伟达净利率更高（63.1% vs 38.0%，领先25.0%），英伟达同比增速更快（73.2% vs 23.8%），英伟达自由现金流更多（$34.9B vs $14.8B），过去两年英伟达的营收复合增速更高（61.7% vs 28.2%）
Meta Platforms是总部位于美国加利福尼亚州门洛帕克的跨国科技巨头，属于全球头部科技企业阵营。旗下运营Facebook、Instagram、WhatsApp、Messenger、Threads等多款知名社交媒体及通讯服务，同时开展自有及第三方站点广告业务，2023年广告收入占其总营收的97.8%。
英伟达是总部位于美国加利福尼亚州圣克拉拉的科技企业，1993年由黄仁勋、克里斯·马拉科夫斯基、柯蒂斯·普里姆联合创立。公司主营图形处理器（GPU）、系统级芯片（SoC）及应用程序接口（API）产品，覆盖数据科学、高性能计算、游戏、移动与车载应用等领域，是全球知名的头部科技企业之一。
META vs NVDA — 直观对比
营收规模更大
NVDA
是对方的1.1倍
$59.9B
营收增速更快
NVDA
高出49.4%
23.8%
净利率更高
NVDA
高出25.0%
38.0%
自由现金流更多
NVDA
多$20.1B
$14.8B
两年增速更快
NVDA
近两年复合增速
28.2%
损益表 — Q4 FY2025 vs Q4 FY2026
| 指标 | | |
|---|---|---|
| 营收 | $59.9B | $68.1B |
| 净利润 | $22.8B | $43.0B |
| 毛利率 | 81.8% | 75.0% |
| 营业利润率 | 41.3% | 65.0% |
| 净利率 | 38.0% | 63.1% |
| 营收同比 | 23.8% | 73.2% |
| 净利润同比 | 9.3% | 94.5% |
| 每股收益（稀释后） | $8.87 | $1.76 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收METANVDA
| Q1 26 | — | $68.1B | ||
| Q4 25 | $59.9B | $57.0B | ||
| Q3 25 | $51.2B | $46.7B | ||
| Q2 25 | $47.5B | $44.1B | ||
| Q1 25 | $42.3B | $39.3B | ||
| Q4 24 | $48.4B | $35.1B | ||
| Q3 24 | $40.6B | $30.0B | ||
| Q2 24 | $39.1B | $26.0B |
净利润METANVDA
| Q1 26 | — | $43.0B | ||
| Q4 25 | $22.8B | $31.9B | ||
| Q3 25 | $2.7B | $26.4B | ||
| Q2 25 | $18.3B | $18.8B | ||
| Q1 25 | $16.6B | $22.1B | ||
| Q4 24 | $20.8B | $19.3B | ||
| Q3 24 | $15.7B | $16.6B | ||
| Q2 24 | $13.5B | $14.9B |
毛利率METANVDA
| Q1 26 | — | 75.0% | ||
| Q4 25 | 81.8% | 73.4% | ||
| Q3 25 | 82.0% | 72.4% | ||
| Q2 25 | 82.1% | 60.5% | ||
| Q1 25 | 82.1% | 73.0% | ||
| Q4 24 | 81.7% | 74.6% | ||
| Q3 24 | 81.8% | 75.1% | ||
| Q2 24 | 81.3% | 78.4% |
营业利润率METANVDA
| Q1 26 | — | 65.0% | ||
| Q4 25 | 41.3% | 63.2% | ||
| Q3 25 | 40.1% | 60.8% | ||
| Q2 25 | 43.0% | 49.1% | ||
| Q1 25 | 41.5% | 61.1% | ||
| Q4 24 | 48.3% | 62.3% | ||
| Q3 24 | 42.7% | 62.1% | ||
| Q2 24 | 38.0% | 64.9% |
净利率METANVDA
| Q1 26 | — | 63.1% | ||
| Q4 25 | 38.0% | 56.0% | ||
| Q3 25 | 5.3% | 56.5% | ||
| Q2 25 | 38.6% | 42.6% | ||
| Q1 25 | 39.3% | 56.2% | ||
| Q4 24 | 43.1% | 55.0% | ||
| Q3 24 | 38.7% | 55.3% | ||
| Q2 24 | 34.5% | 57.1% |
每股收益（稀释后）METANVDA
| Q1 26 | — | $1.76 | ||
| Q4 25 | $8.87 | $1.30 | ||
| Q3 25 | $1.05 | $1.08 | ||
| Q2 25 | $7.14 | $0.76 | ||
| Q1 25 | $6.43 | $-4.49 | ||
| Q4 24 | $7.96 | $0.78 | ||
| Q3 24 | $6.03 | $0.67 | ||
| Q2 24 | $5.16 | $5.98 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $81.6B | $10.6B |
| 总债务越低越好 | $58.7B | $8.5B |
| 股东权益账面价值 | $217.2B | $157.3B |
| 总资产 | $366.0B | $206.8B |
| 负债/权益比越低杠杆越低 | 0.27× | 0.05× |
8季度趋势，按日历期对齐
现金及短期投资METANVDA
| Q1 26 | — | $10.6B | ||
| Q4 25 | $81.6B | $60.6B | ||
| Q3 25 | $44.4B | $56.8B | ||
| Q2 25 | $47.1B | $53.7B | ||
| Q1 25 | $70.2B | $43.2B | ||
| Q4 24 | $77.8B | $38.5B | ||
| Q3 24 | $70.9B | $34.8B | ||
| Q2 24 | $58.1B | $31.4B |
总债务METANVDA
| Q1 26 | — | $8.5B | ||
| Q4 25 | $58.7B | $8.5B | ||
| Q3 25 | — | $8.5B | ||
| Q2 25 | — | $8.5B | ||
| Q1 25 | — | $8.5B | ||
| Q4 24 | $28.8B | $8.5B | ||
| Q3 24 | $28.8B | $8.5B | ||
| Q2 24 | — | $9.7B |
股东权益METANVDA
| Q1 26 | — | $157.3B | ||
| Q4 25 | $217.2B | $118.9B | ||
| Q3 25 | $194.1B | $100.1B | ||
| Q2 25 | $195.1B | $83.8B | ||
| Q1 25 | $185.0B | $79.3B | ||
| Q4 24 | $182.6B | $65.9B | ||
| Q3 24 | $164.5B | $58.2B | ||
| Q2 24 | $156.8B | $49.1B |
总资产METANVDA
| Q1 26 | — | $206.8B | ||
| Q4 25 | $366.0B | $161.1B | ||
| Q3 25 | $303.8B | $140.7B | ||
| Q2 25 | $294.7B | $125.3B | ||
| Q1 25 | $280.2B | $111.6B | ||
| Q4 24 | $276.1B | $96.0B | ||
| Q3 24 | $256.4B | $85.2B | ||
| Q2 24 | $230.2B | $77.1B |
负债/权益比METANVDA
| Q1 26 | — | 0.05× | ||
| Q4 25 | 0.27× | 0.07× | ||
| Q3 25 | — | 0.08× | ||
| Q2 25 | — | 0.10× | ||
| Q1 25 | — | 0.11× | ||
| Q4 24 | 0.16× | 0.13× | ||
| Q3 24 | 0.18× | 0.15× | ||
| Q2 24 | — | 0.20× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $36.2B | $36.2B |
| 自由现金流经营现金流 - 资本支出 | $14.8B | $34.9B |
| 自由现金流率自由现金流/营收 | 24.8% | 51.2% |
| 资本支出强度资本支出/营收 | 35.7% | 1.9% |
| 现金转化率经营现金流/净利润 | 1.59× | 0.84× |
| 过去12个月自由现金流最近4个季度 | $46.1B | $96.7B |
8季度趋势，按日历期对齐
经营现金流METANVDA
| Q1 26 | — | $36.2B | ||
| Q4 25 | $36.2B | $23.8B | ||
| Q3 25 | $30.0B | $15.4B | ||
| Q2 25 | $25.6B | $27.4B | ||
| Q1 25 | $24.0B | $16.6B | ||
| Q4 24 | $28.0B | $17.6B | ||
| Q3 24 | $24.7B | $14.5B | ||
| Q2 24 | $19.4B | $15.3B |
自由现金流METANVDA
| Q1 26 | — | $34.9B | ||
| Q4 25 | $14.8B | $22.1B | ||
| Q3 25 | $11.2B | $13.5B | ||
| Q2 25 | $9.0B | $26.2B | ||
| Q1 25 | $11.1B | $15.6B | ||
| Q4 24 | $13.6B | $16.8B | ||
| Q3 24 | $16.5B | $13.5B | ||
| Q2 24 | $11.2B | $15.0B |
自由现金流率METANVDA
| Q1 26 | — | 51.2% | ||
| Q4 25 | 24.8% | 38.8% | ||
| Q3 25 | 21.8% | 28.8% | ||
| Q2 25 | 19.0% | 59.4% | ||
| Q1 25 | 26.2% | 39.5% | ||
| Q4 24 | 28.0% | 47.9% | ||
| Q3 24 | 40.6% | 45.0% | ||
| Q2 24 | 28.7% | 57.5% |
资本支出强度METANVDA
| Q1 26 | — | 1.9% | ||
| Q4 25 | 35.7% | 2.9% | ||
| Q3 25 | 36.7% | 4.1% | ||
| Q2 25 | 34.8% | 2.8% | ||
| Q1 25 | 30.6% | 2.7% | ||
| Q4 24 | 29.8% | 2.3% | ||
| Q3 24 | 20.3% | 3.3% | ||
| Q2 24 | 20.9% | 1.4% |
现金转化率METANVDA
| Q1 26 | — | 0.84× | ||
| Q4 25 | 1.59× | 0.74× | ||
| Q3 25 | 11.07× | 0.58× | ||
| Q2 25 | 1.39× | 1.46× | ||
| Q1 25 | 1.44× | 0.75× | ||
| Q4 24 | 1.34× | 0.91× | ||
| Q3 24 | 1.58× | 0.87× | ||
| Q2 24 | 1.44× | 1.03× |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
META
| Advertising | $58.1B | 97% |
| Reality Labs | $955.0M | 2% |
| Service Other | $801.0M | 1% |
NVDA
| Compute | $51.3B | 75% |
| Networking | $11.0B | 16% |
| Gaming | $3.7B | 5% |
| Professional Visualization | $1.3B | 2% |
| Automotive | $604.0M | 1% |
| OEM And Other | $161.0M | 0% |
| Inventory Purchase Obligations In Excess Of Projections | $31.0M | 0% |
